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Marsh Supermarkets to Auction Surplus Property

INDIANAPOLIS -- Marsh Supermarkets here will offer 27 surplus properties at auction both in Indianapolis and worldwide via real-time Internet broadcast this Thursday, including some of what the company said are prime properties that no longer fit into its corporate strategy.

November 11, 2007, 07:00 pm

INDIANAPOLIS -- Marsh Supermarkets here will offer 27 surplus properties at auction both in Indianapolis and worldwide via real-time Internet broadcast this Thursday, including some of what the company said are prime properties that no longer fit into its corporate strategy.

Marsh offer the properties simultaneously at auction in the Holiday Inn Select Grand Ballroom located adjacent to the Indianapolis Airport at 2501 S. High School Road Indianapolis, Indiana, and via real-time online bidding at www.naalive.com

Marsh will use the proceeds of the auction to continue its efforts in renovating and upgrading its operating stores.

“Although these properties no longer fit into the future plans of Marsh, they are located in many prime markets around the region with some of the locations being no more than a few years old and fully equipped,” said John Haney, general manager of Higgenbotham Auctioneers International Ltd.(HAI), which is handling the auction for the retailer.

“By offering the sale of these properties via the Internet, we expand the base of interested buyers, thus giving those who cannot travel to the actual sale site the opportunity to participate in a convenient and secure manner,” said Haney, noting that the NAALive.com application allows bidders to participate in real time as if they were attending the auction in person.

The inventory consists of 15 retail outparcels/development tracts and 12 retail buildings. No open locations are included in the auction, Marsh said.